Posted by Chris on August 31, 2000 at 17:59:46:
Pure Trust Organization? What is that and how does it help avoid taxes? Please give a reference if you have one. Thanks.
LLC’s,LLP’s,Trusts, Sub S Corporations - Posted by Tearey
Posted by Tearey on August 31, 2000 at 10:10:19:
Maybe I am thinking to much but I have read the warnings from the pro’s about protecting your assets in this game. So I have endeavered to learn how to do just that before I make my first attempt at a deal. While I am doing all this I am sure many of you are making fists full of dollars already. With all that said–
I read Ron Legrand advice on using trusts for protection, but everyone around these parts never makes mention of Trusts. I suspect that Michigan dosen’t use trust for this purpose because the thing here is the Limited Liability company and Limited Liability Parterships. I addition I have read that the Sub S corporations offer similar protection as LLC’c and are more of a established method whereas LLC" are new and un tested in Michigan courts. but then I don’t really know much about any of them.
If you will then- please feel free to inform me about these entities as they may apply to purchasing real estate. And let me say thanks ahead of time.
My Question is: how should I proceed if I am to do this thing right from the ground up with almost no money.
A. Form a LLC
b. Start with lease options
c. graduate to retails and wholesales
Or maybe not
maybe I should just skip the dance and start making offers?
Re: LLC’s,LLP’s,Trusts, Sub S Corporations - Posted by jay harris
Posted by jay harris on August 31, 2000 at 14:59:40:
you need to form an LLC and then purchase a PTO. A pure trust organization. this will not only protect you but eliminate your capital gain and fed and state income taxes.
Re: LLC’s,LLP’s,Trusts, Sub S Corporations - Posted by JPiper
Posted by JPiper on September 01, 2000 at 08:09:59:
I hear the tax claims for this so-called “pure trust” are little more than a scam.
JPiper
Power Take Off??? - Posted by Rick Wheat
Posted by Rick Wheat on September 01, 2000 at 03:17:11:
I had one of those once on my tractor!
Pure Trust Organization? Sounds like a religious cult to me!
What is it, how does it work, where did it come from?
Enquiring minds want to know!
GOOD LUCK!!!
Rick Wheat